Here are a few things you need to know as Saudi stocks start trading on Tuesday.
1) Naseej International Trading Co.’s shareholders approved, on Dec. 20, a 65.4 percent capital cut to SR61.63 million ($16.43 million) from SR178.16 million.
2) Al Rajhi REIT Fund signed, on Dec. 20, a SR254.5 million Shariah-compliant loan facility agreement with Al Rajhi Bank.
3) Arabian Aramco Total Services Co. partially redeemed SR141.7 million worth of sukuk, representing 3.78 percent of the sukuk’s original face value (scheduled semi-annually).
4) Saudi Paper Manufacturing Co. (SPM) rights trading period ended Dec. 21, 2020.
5) Vodafone Group ended talks with Saudi Telecom Co. (STC) on selling 55 percent stake in Vodafone Egypt.
6) The General Authority for Competition (GAC) imposed a fine of SR10 million on stc Group, on violating Article 5 of the competition law.
7) National Company for Learning & Education (NCLE) shareholders are set to vote, on Jan. 13, on an 8 percent cash dividend for the fiscal year 2019/2020 ended Aug. 31, 2020, at SR0.8 per share.
8) Saudi Aramco Development Co., a subsidiary of oil giant Aramco, and Cognite signed an agreement to establish a joint venture as part of their strategic digitalization partnership.
9) Brent crude on Tuesday declined 10 cents to reach $50.18 per barrel. WTI crude also decreased $1.36 to reach $47.74/bbl.
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